PFRDA was established by the Government of India in 2003 to promote old age income security and regulate pension funds. It aims to protect subscribers' interests and intensify financial education efforts. PFRDA regulates the New Pension System, which allows subscribers to make optimal decisions for retirement through systematic savings from employment. PFRDA registers intermediaries like record keepers and pension funds, monitors their performance, and safeguards subscribers' interests by regulating investment of contributions.
CRM has become one of the important software in the banking industry, This ppt tells about the need for CRM and how it is changing the dynamics in the banking industry.
Financial inclusion is defined as the availability and equality of opportunities to access financial services. It refers to a process by which individuals and businesses can access appropriate, affordable, and timely financial products and services. These include banking, loan, equity, and insurance products.
CRM has become one of the important software in the banking industry, This ppt tells about the need for CRM and how it is changing the dynamics in the banking industry.
Financial inclusion is defined as the availability and equality of opportunities to access financial services. It refers to a process by which individuals and businesses can access appropriate, affordable, and timely financial products and services. These include banking, loan, equity, and insurance products.
Net Promoter Score (NPS) - Measure Customer Satisfaction in 1 QuestionCheckMarket
The Net Promoter Score (NPS) is a simple but powerful tool to measure client satisfaction with one single question, an indication of the growth potential of your company or product. Read further for an overview on the use, application and pitfalls of NPS.
Net Promoter and NPS are registered service marks, and Net Promoter Score and Net Promoter System are service marks, of Bain & Company, Inc., Satmetrix Systems, Inc. and Fred Reichheld.
The National Pension System (NPS) is a voluntary
retirement savings initiative in India, established
by the government in 2004. It involves
individuals making regular contributions to
individual pension accounts, which are managed
by Pension Fund Managers. NPS provides various
investment options, including equity and bonds.
Upon retirement, a portion can be withdrawn as
a lump sum, and the rest is used to purchase an
annuity for a regular pension. The scheme offers
tax benefits and aims to foster a culture of long-term savings for financial security during
retirement.
The Indian subcontinent is known for its population and at present is one of the
countries having maximum number of youngsters. This also indicates an increase in old
age population. Meeting the needs of the old age has also been a matter of challenge to
the government. Both public sector and private sector, financial and non-financial
organization concentrate on pension planning. In recent days the importance given to
pension planning is increasing. Though there are schemes that promises old age security,
the effectiveness of such schemes is not evident. This paper focuses on study of
effectiveness of pension schemes opted by selected retired employees of private
manufacturing sector. The main objectives of the study is to understand the behavior of
pension fund and possible deviation from the expected behavior. The sample where
selected from retired employees of private manufacturing sectors in Mysore district. The
data was collected through scheduled questionnaire and telephone interview
ESI is a multidimensional social security system tailored to provide socio-economic protection to the worker population and their dependents covered under the scheme. ESI is completely different from insurance that is provided for the general public. It supports full medical care and reasonable economic assistance to the beneficiaries for benefits like sickness, maternity, disablement and death due to employment injury. It is one of the most effective measures available to employees in a working environment.
The National Pension Scheme is a Defined Contribution Scheme that was set up in 2004 for all Government Employees and was open to the general public in May 2009. It is a social security benefit to create a retirement corpus to meet post retirement income needs, initiated by the Government of India in association with the Pension Regulatory Development Authority.
Impact of Contributory Pension Scheme on Workers’ Savings and Investment in N...iosrjce
This paper analyses the impact of Contributory Pension Scheme on employee savings and investment
in Nigeria using Anambra State public workers as a case study. The paper uses cross – sectional primary data
sourced through a structured questionnaire administered on 387 respondents (i.e. those that have been in
service for the period of 5 years and on grade level 8. This choice is based on the fact that they will save
money than those in grade levels less than 8. The empirical analysis reveals that majority of the respondents
prefers to save outside any pension scheme implying that they are participating because it is compulsory. Again,
most of the respondents are not aware of their employers’ own contribution to their contributory pension
scheme. The study therefore concludes among others that the Nigerian government should create more
awareness and enlightement campaign on the workers’ contributory pension scheme geared towards
retirements
ESI is a multidimensional social security system tailored to provide socio-economic protection to the worker population and their dependents covered under the scheme. The Employee State Insurance (ESI) Scheme is a huge social security for the employees in the organization. ESI is completely different from insurance that is provided for the general public. It supports full medical care and reasonable economic assistance to the beneficiaries for benefits like sickness, maternity, disablement and death due to employment injury. It is one of the most effective measures available to employees in a working environment.
Small depositors in all countries are exposed to higher risk. As the banks are well regulated, the risk to depositors is mitigated to a limited extent through deposit insurance. In India, 87 commercial banks, 82 Regional rural Banks, 4 Local Area Banks and 2026 Co-operative banks are covered by deposit insurance scheme of the Deposit Insurance and Credit Guarantee Corporation of India (DICGCI). Each depositor in a bank is insured up to a maximum of rupees one lakh for both principal and interest. In the aftermath of Global Financial Crisis, depositor protection has become far more central for achieving the goal of financial stability
Case Study On Successful Journey of REPCO Bank In India With Specific Referen...VARUN KESAVAN
Repco Bank (Repatriates Cooperative and Finance and Development Bank) is a cooperative bank established by the Government of India in 1969 to improve financial needs of repatriates from Sri Lanka and Burma.[1] It has been controlled by the Ministry of Home Affairs and operated only in the South Indian states of Andhra Pradesh, Karnataka, Kerala and Tamil Nadu.[1][2] As of 2014, the shares of the bank are Government of India has 73.33%, repatriates has 21.28% and state governments Tamil Nadu has 2.91%, Andhra Pradesh has 1.73%, Kerala has 0.59% and Karanataka has 0.17%.[3]
Having secured a job, an individual aspires for a better life, a comfortable home, health care, and a pension to take them easily through retirement blues. Key to lead the life out of retirement blues is pension planning for which the savings through Employees’ Provident Funds are important.
2. WHAT IS PENSION & PFRDA
Pension is a form of Social Security/ Insurance in
the form of Monthly payments paid to the
citizens on attaining the age of retirement to
take care of day to day living expenses .
PFRDA was established by the Government of
India to promote old age income security by
establishing, developing and regulating
pension funds, to protect the interests of
subscribers to schemes of pension funds
3.
4. • PFRDA was established by Government of
India on 23rd August, 2003.
• The Government has mandated PFRDA to act
as a regulator for the pension sector in India.
• PFRDA also intends to intensify its effort
towards financial education and awareness
as a part of its strategy to protect the interest
of the subscribers.
5. • The New Pension System
reflects Government’s effort to find
sustainable solutions to the problem of
providing adequate retirement income.
• The NPS has been designed to enable the
subscriber to make optimum decisions
regarding his/her future and provide for
his/her old-age through systemic savings
from the day he/she starts his/her
employment.
6. • PFRDA’s efforts are an important milestone in
the development of a sustainable and
efficient voluntary defined contribution
based pension system in India.
7. What is the role of PFRDA in NPS?
• PFRDA, the regulator for the NPS, is responsible
for registration of various intermediaries in the
system such as Central Record Keeping Agency
(CRA), Pension Funds, Custodians, NPS Trustee
Bank, etc.
• PFRDA shall also monitor the performance of the
various intermediaries and has a significant role to
play in safeguarding the interest of subscribers.
• It will regulate the manner in which subscriber
contributions are invested by PF(s) and will make
all efforts to ensure fair play for subscribers.
